What Is Planning In Business Management

What Is Planning In Business Management-57
Essentially, strategic plans look ahead to where the organization wants to be in three, five, even ten years.Strategic plans, provided by top-level managers, serve as the framework for lower-level planning. As a top-level manager, Tommy must use strategic planning to ensure the long-term goals of the organization are reached.

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Operational planning activities for Frank would include things like scheduling employees each week; assessing, ordering and stocking inventory; creating a monthly budget; developing a promotional advertisement for the quarter to increase the sales of a certain product (such as the Hawaiian pizza) or outlining an employee's performance goals for the year.

Operational plans can be either single-use or ongoing plans.

If you think about these three types of plans as stepping stones, you can see how their relationship to one another aids in the achievement of organizational goals.

Operational plans are necessary to attain tactical plans and tactical plans lead to the achievement of strategic plans.

Now that you have a general idea for how organizational planning evolves, let's look at the next level of planning, known as tactical planning.

Tactical plans support strategic plans by translating them into specific plans relevant to a distinct area of the organization.

Strategic plans also tend to require multilevel involvement so that each level of the organization plays a significant role in achieving the goals being for.

Top-level managers, such as Tommy, develop the organizational objectives so that middle- and lower-level managers can create compatible plans aligned with those objectives.

Managers find themselves planning for all sorts of things.

So much so, that planning is one of the four major functions of management.

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